## The Empire Strikes Back? Yahoo Sports Sells Rivals to On3, Leaving Questions in its Wake
It’s a move that echoes the seismic shifts in the media landscape, a chess game where power dynamics are constantly in flux. Yahoo Sports, once a titan of online sports coverage, has just made a surprising move: selling Rivals.com, its long-standing competitor in the college sports recruiting space, to the rapidly growing On3 ownership group.
This isn’t just a simple transaction. It’s a strategic play with far-reaching implications for the future of sports journalism, the dynamics of college sports recruiting, and the fight for eyeballs in the ever-evolving digital world.
Future-Focused Platform
The deal creates a powerful platform that elevates athletes, energizes fans, and drives innovation across the sports industry.
Analysis and Implications
Partnership Opportunities
The deal opens up new partnership opportunities for Yahoo Sports and On3, particularly in recruiting and college athletics.
Content Distribution
Yahoo’s large scale and distribution network will help drive content growth and subscription revenue for Rivals and On3.
Competitive Landscape
The acquisition will likely impact the competitive landscape of college sports media, as Rivals and On3 solidify their positions in the market.
Practical Aspects
Deal Timeline
The deal is expected to be finalized by the end of June.
Subscribers’ Access
Subscribers of each network will gain access to the other, providing a seamless experience for fans.
Content Strategy
The deal will likely lead to a re-evaluation of content strategy and investment priorities for Rivals and On3.
Source Information
A major college sports property is entering the transfer portal. Yahoo Sports is selling Rivals to the On3 ownership group led by serial entrepreneur Shannon Terry, representatives of both sides confirmed exclusively to Front Office Sports. Yahoo Sports will be taking a stake in the aggregate ownership group in the transaction, the reps added. It is a full-circle moment for Terry, who was a co-founder of Rivals and involved in the process of selling it to Yahoo for about $100 million in 2007. Terry founded the On3 network in 2021. (He was also the founder of 247, which sold to CBS in 2015.) Terms of the deal—including how much Rivals and the On3 ownership group are valued at, and what percentage Yahoo now owns of the parent company—were not disclosed. Yahoo Sports will have a seat on the parent company’s board, and leverage its large scale for content distribution and subscription growth. “Rivals is an icon in college sports and recruiting media,” Terry said in a statement. “We’re excited to build on the momentum behind Rivals, which has a longstanding legacy as the most recognized brand and author of the recruiting industry. We look forward to taking Rivals to new heights with significant new investment focused on recruiting, high school sports, and passionate college fan communities.” “We’re thrilled to be working with the Yahoo Sports team again,” he continued. “From the start, it was clear both parties saw tremendous value in a partnership. Yahoo Sports has world-class distribution, a strong editorial platform, and an expansive content network that will play an integral role in the continued growth of On3 and Rivals.” Both Rivals and On3 have a combination of free and premium subscription content, and subscribers of each network will gain access to the other. The sites have clear synergies as On3 covers college athletics at-large where Rivals has long been a behemoth in recruiting rankings and coverage. “Rivals has a proud legacy, a vast network, and has stood among the most respected names in college sports coverage for over two decades,” Yahoo Sports president Ryan Spoon said. “It’s long been a cornerstone of our sports ecosystem, and together with On3, we are creating a powerful, future-forward platform that elevates athletes, energizes fans, and drives innovation across the sports industry.” The deal is expected to be finalized by the end of June.
Giannis Antetokounmpo’s Uncertain Future
After the loss, Bucks star Giannis Antetokounmpo was confronted by Tyrese Haliburton’s father, John, on the court, and then faced questions about his future in Milwaukee. “I’m not going to do this,” Antetokounmpo said when asked if he thinks he could still win another title in Milwaukee. “Whatever I say, I know it’s going to translate. I don’t know man. I wish I was still playing. None of that is Marc Lasry’s problem now. Lasry, along with private equity billionaire Wes Edens, bought the team from former senator Herb Kohl in 2014 for $550 million. In 2021, the team won its first NBA championship since 1971 when Kareem Abdul-Jabbar was on the roster. The Bucks have failed to make a deep playoff run since their title and it’s hard to see one in the near future after Damian Lillard tore his left Achilles on Sunday. This past season, the Bucks had a top-five payroll in the NBA and lack the draft capital to quickly retool. Lasry sold his 25% stake of the team to Browns owner Jimmy Haslam in 2023. He recently sat for a Front Office Sports interview and was asked whether Antetokounmpo’s uncertain future played into his decision to sell. “That was a factor,” Lasry told FOS. “I’m not going to tell you it wasn’t. I thought it was going to cost a lot to keep the team. That was one factor. I think the second is the team was getting older, and would Giannis stay? And so I thought it was going to be hard to recapture everything and to do everything. So I sort of looked at it like now may be a good time.” Marc Lasry sold his 25% stake in the Bucks in 2023. Was Giannis’s murky future with the team a factor? “That was a factor. I’m not going to tell you it wasn’t,” he told FOS. “It was going to cost a lot to keep the team… the team was getting older and would Giannis stay?” — Front Office Sports (@FOS) April 30, 2025 Lasry sold his stake for $875 million, which meant the franchise was valued at $3.5 billion. The team is currently valued at $4 billion by Forbes, 15th among NBA teams. Lasry said he sees parallels between his sale and Wyc Grousbeck recently agreeing to sell the Celtics for $6.1 billion, less than a year after winning the NBA Finals. “People will always pay a premium for someone who’s a winner,” Lasry said. “It’s harder when you’re not winning. I think Wyc found that out. If I said to you, somebody’s going to pay you $6 billion for a team that doesn’t own an arena and a team that is losing money because they’re in luxury tax, you would have thought I was crazy. So I think there’s a lot to the fact that people want to win a championship and will pay for that.”
Conclusion
As we conclude our analysis of Yahoo Sports selling its rival, Rivals, to the On3 ownership group, it’s clear that the sports media landscape is undergoing a significant transformation. The acquisition marks a significant shift in the industry, as Yahoo Sports, once a leading player in the space, is ceding its control over Rivals, a platform that has long been a thorn in its side. The deal highlights the growing importance of consolidation and strategic partnerships in the world of sports media, as companies seek to strengthen their position in an increasingly competitive market.
The implications of this deal are far-reaching, with potential consequences for the way sports news is consumed and reported. As Rivals becomes part of the On3 family, fans can expect a more streamlined and integrated experience, with the potential for enhanced coverage and analysis. Meanwhile, Yahoo Sports must adapt to its new reality as a standalone entity, potentially leading to a reevaluation of its own strategy and priorities. As the sports media landscape continues to evolve, it’s crucial for players to remain agile and innovative in order to stay ahead of the curve.
